Get free samples written by our Top-Notch subject experts for taking the assignment services uk from Rapid Assignment Help.
Quantitative Research in modern marketing can be referred to as the process where the organization questions its target market through various questionaries, surveys, or poles. The responses received from the target market are stored by the analysts and are used to improve the products and services of the organization in the future. Quantitative research is often used by companies while launching new products as it helps the company to understand the various needs and wants of the customers. It is also used by organizations while expanding into a new market and the method helps the organizations to understand the current trends in the market.
Here are the roles that Quantitative Research plays in modern marketing research and data analysis:
Quantitative Research is one of the most crucial processes that companies must undertake in order to develop a successful business campaign (Tominc et al., 2018). It helps the companies to understand the behaviors of the customers and to develop products according to the needs and wants of the customers.
The importance of Questionnaire Design is mentioned below:
The questionnaire is one of the best ways of quantitative research that helps firms to gather a lot of information from a large base of people in a short period of time (Weking et al., 2019). The data collected from questionnaires are quite useful for the organization and can be used in developing products.
Here are some of the common types of Questionnaires used by the organizations:
There are several forms of questionnaires that are used by organizations (Grassini and Laumann, 2020). In the above slide, four types of questionnaires i.e. telephone, computer, in-house, and multiple-choice questionnaires have been discussed in brief.
The roles of Qualitative Research are as follows:
Just like quantitative research, qualitative research can also be quite useful for organizations. It helps the companies to understand whether their products are meeting the vast demands of the customers and the areas that need improvements.
The importance of the Discussion Guide is mentioned below:
Discussion guides can be referred to as a set of questions that are given to the people for answers (Wilod Versprille et al., 2019). These questions are generally connected to a company’s products and services and are quite useful for organizations while expanding in a new market.
Correlation is an investment and financial tool that helps companies to understand and compare two different databases. It is often used by firms to understand the way in which two securities are connected to each other.
Here are the four uses of correlation:
Correlation is used by firms for various reasons. Correlation can be used to understand the difference between two different variables and is also used by organizations for advertisement sales and expenditures (Mohajan, 2018).
Regression is a statistical method of understanding the strength of the relationship between two different variables. The method is generally used by firms to find out the value of assets and stocks.
Here are the uses of regression:
Regression is a crucial method that is used by organizations to understand the bond between two variables. It is often used to find the relationship between two or more variables and is a great optimization and forecasting tool for organizations (Gundumogula, 2020).
A time series can be defined as the sequence of data that has been gathered by an organization over a period of time. The process is sometimes compared to cross-sectional data and is a useful tool for observing the differences between certain time periods.
Some common uses of time series are mentioned below:
Time series is a great tool for organizations to understand the change in the behavior of a data set over a period of time. The process is used by organizations for various purposes such as signal processing, mathematical finance, econometrics, and pattern recognition.
Both correlation and regression methods prove quite useful for organizations, however there, are some issues and restrictions that the companies face while implementing these processes. Four of the disadvantages of correlation and regression have been briefly mentioned in the above slide.
As mentioned earlier, time series is a quite useful way for organizations to understand the changes in datasets over a period of time (Ismail Fawaz, 2019). However, there are sometimes due for certain reasons time series lose their accuracy. The issues of time series are mentioned briefly in the above slide.
Here are the ways that can increase the effectiveness of data collection:
Four ways by which the effectiveness of the data collected through various procedures are mentioned in the above slide (Senthilnathan, 2019).
Get Better Grades In Every Subject
Submit Your Assignments On Time
Trust Academic Experts Based in UK
Your Privacy is Our Topmost Concern
Copyright 2023 @ Rapid Assignment Help Services
offer valid for limited time only*